 is up everybody it stops here welcome back to another video so in this video We're going to be doing an overall market update taking a look at the Dow Jones the S&P 500 and the Nasdaq We're also going to be doing a trading update talking about what I personally did today in the markets as well some stocks and ETFs That I'm watching and looking to trade here in the month of October in 2019 and as you guys saw in the title there is one thing right now That's happening on Thursday a big event that could potentially affect the stock market either negatively or positively I think this event is going to bring a lot of volatility to the markets And I'm sure a lot of you guys know what this event is But if you don't know I'll be talking about it here in a couple of minutes So if you guys enjoy this video if you find value in this video throughout the course of the video Feel free to go down below hit that like button consider subscribing if you do want to see further content for me And feel free to join our 100% free of charge discord group chat and Facebook group All of those are linked down below in the description box. So guys Let's get started with the SPX the 500 largest publicly traded US companies Which ended up closing the day down today 13 points down 0.45% if we zoom out a bit to this 184 hour chart you guys can see that we're trending under moving averages still This can technically be a lower high point where we may see some further Downside now because we didn't break out of this 180 SMA which is the 180 simple moving average this yellow line So the fact that we did struggle here today If we go back to that one day one minute you guys can see we were kind of hovering flat the entire day Right we gapped down this morning. We ran up But you guys can see there's a general area of resistance at around 2955 2960 right we tested that level in the first two three hours of the market right we dumped from there We popped up again. We hit a higher high. This was looking good for the bulls But ultimately we ended up closing the day on a huge downswing the S&P went from 2960 all the way down to about 2938 at the close and that is a swing of around 272 points so the market definitely collapsed a little bit here in the last two hours of The session and what did that do if we go back to that four-hour chart again again? That confirmed our rejection under that 180 SMA Which is very very good for my theory of this overall head and shoulder trend that I am noticing here on The SPX on the four-hour chart and honestly on the other markets as well being the Dow and the Nasdaq right you guys can see it here the left shoulder the right or rather the head and then this could be the right shoulder and Again, we got a very good confirming factor of the rejection today Which if we do dump and let's say break 2920 and get down to the 28 hundreds This is going to be the start of the completion of the right shoulder Which is obviously bearish because if we start to complete this right shoulder guys We're going to be going down into levels that we haven't been at over the past couple of weeks And again the first level I'm seeing here is 2920 if we break that 2880 is another one here that we actually tested a couple of days ago We yet we actually ended up holding that that's a good sign right if we break that 2850 and so forth right if we get down to these levels you guys see some major support levels are 2730 as well as 2810 on the S&P 500 so keep an eye on that overall trend here That is the head and shoulder that I am seeing starting to form out here on the S&P and again You'll see it on the Dow and the Nasdaq as I pull up those charts next and you guys can see here Despite on you know on the one-hour chart despite us breaking above that 50 SMA Overall we're trending below that 180 SMA and it seems like we failed to break out of it today So that's giving me a confirmation that this level is acting as a resistance So overall here guys honestly on the S&P. I'm seeing this looking pretty bearish right especially with this event coming up on Thursday if this doesn't go so well if things turn sour this market can drop in the snap of a finger Which we've seen it happen before in terms of you know events like this going sour things not working out And I know you guys know what I'm talking about for those of you guys that do know what I'm talking about right? So just keep an eye on that potential sell-off on the SPX the closed today did not look too good for the bulls Right if we pull up the Dow Jones industrial average here guys down 95 points today down point three six percent here and you guys can see the overall trend very similar to the SPX Right we got this left shoulder We got the head and now we're in the completion phase We're beginning the completion phase of this right shoulder in terms of the head and shoulders pattern right overall on the four-hour chart On the Dow we're getting rejected by the 180 SMA right We struggled to break out of this very prominent resistance level being around 26 600 today which happens to be a resistance from back in the middle of April to the beginning of May in 2019 right you guys saw this level we got rejected at this point a couple of months ago And then we saw that massive correction So the fact that we are getting rejected there again That gives me really the belief that we might be selling off here to the next support Which on the Dow is at around 26 200 so keep an eye on that level We may be selling off right if we zoom in a bit so the 20 day one hour you can see We're still on a downtrend right although we broke the 50 SMA very similar to the SPX on the one-hour chart We're still trending below the 180 SMA guys, right? We're still at a lower high from here and again, we broke a critical or rather we failed to break a critical resistance Which is not good for the bulls out there, right? And if we go to the one day one minute you can see kind of flat during this time period we gap down we popped up We really weren't doing anything in terms of overall You know gain or loss in the Dow or the S&P rather in the Nasdaq and then again We sold off pretty aggressively in the last two hours of the market if we go to the NQ right now This is saying it's up three points But then again, you guys know this is the future, right? So let me pull up my yahoo finance at very quickly Just to see what the the Nasdaq ended up doing today ended up going down 26 points down 0.33% right so you guys can see here on the one day one minute We were pretty flat in terms of before the market here. We started to see a surge as the market opened We peaked at around 77 really 7800 there and the last two two and a half hours The market took a hit from 7800 all the way down to about 7,740 that being a drop of around 60 points that's probably around a half a percent drop in about two two and a half hours In terms of the Nasdaq here, right? And if we zoom out to the 184 hour, you can see very clear that this is a head and shoulder pattern on the NQ left shoulder head right shoulder is in the completion phase right now It's beginning the completion phase if it does end up dumping below 7700 which in this case guys is a very prominent level of support right notice how You know, this is an old resistance from where we actually triple topped about a Two two and a half months ago more like two months ago at this point right you guys see the triple top here and then we broke out of that triple top resistance making it a support and That is where we're holding right now at the close of the market So this is a massive dump guys and take a look. This is insane, right? I drew these candlesticks out or not candlesticks these trend lines Literally a week a week and a half ago I have not touched these trend lines here and the market has played out 100% to this trend line these trend lines that I that I've drawn out drone or what's the word drawn out Oh my god guys. I'm messing up my English here. It's the same. You guys see the pull down We held 7500 like I was expecting right because at this point we got very oversold This was about you know near a level of support. That was very prominent a couple of weeks ago We ended up holding that support. We saw the retracement back up We saw the breather right from that oversold state now The RSI is getting a bit more healthy and we see I pretty much predicted that with my trend line drawing here And now we're seeing the resistance under that 180 SM a guy. So let's see if this next dump here Ends up playing out right so if this ends up playing out we end up dumping below 75 70 Which again is that prominent level of support? This is going to be on its way to complete that right shoulder and ultimately Maybe get down to the 7200 level which we were at during that may sell off in the stock market So overall guys, that's what the markets are looking like right now guys, you know We saw a bit of a red day today You know a lot of the markets are looking like they're going to sell off more based on the Technicals that we discussed and I just honestly love to know what you guys have to think about that down below in the comment section What are your thoughts on the markets? Are you long right now holding any swing positions? Are you day trading in this market? Are you waiting to see what happens in these next couple of days as things pan out? Let me know down below in the comments. I would love to know so what did I do in the markets today? Let's get into that so if you guys watch my video yesterday on Sunday And by the way for those of you new viewers out there every Sunday I make a video where I go over the top stocks need TFs I'm watching for the upcoming week and I kind of outline my plan for that week What are my thoughts entering into that week? So subscribe to the channel if you guys do want to see that type of content But I was talking about how crude oil was at a level of support And I was also talking about proctor and gamble being in that stock as a swing position from this previous Friday So let's talk about those two very very quickly here So UWT is what I ended up trading today. Nothing crazy here guys to be completely honest But you can see here on crude oil. This is what I talked about in yesterday's video Right crude oil is at a level of support where we double bottomed back in the June month of 2019 Right, we double bottomed here at 52 and we ran up all the way to 60 bucks Right, we sold off all the way back down to that level of support back in the beginning of August And we rallied all the way back up to 56 bucks Right, we rallied up to 63 after that as we got that Saudi Arabia news Right, you guys all remember that the price of oil went crazy And now we're starting to see the retracement a bit from that ridiculous price hike in oil And what are we doing again guys? We are holding that $52 level of support and we're slowly starting to climb Right, that's what I noticed in yesterday's video That's what I talked about in yesterday's video And if you guys go to the one day one minute on crude oil, take a look this morning at 4 a.m Now this is way before the market opened on the east coast here crude oil was running up pretty much all the way To 11 a.m. Eastern Standard Time and went to 54 bucks and then it dumped pretty much this time period right here from the market open Up to 11 o'clock. That is when I saw action in UWT and again not crazy move here guys This is probably one of my smaller moves But if we go to the 180 or actually let's go to the 20-day chart very quickly you guys can see We actually gapped up above the 50s and made today That was actually a good sign in my opinion because this level was a resistance over the past couple of trading days So the fact that we did break out of it that gave me a sign Okay, this one might fill up to the next resistance, which in this case is the 180s may it didn't completely fill up to there But the fact that we actually pulled down and held the 50s may as a support That gives me signs that we might actually fill up either tomorrow or the next day Maybe the end of this week up to this level of the 180s may or even higher right because we can see we pulled down again We're holding it into the close here being that 50s may and from where we are now That's about a 12% but anyway, what did I do today guys you can see on the one day one minute We pulled down held a higher low from the previous in terms of you know The price action here and then we broke out right as we started to break out here crude oil again If I pull that up it was breaking out as well. So this just gave me The opportunity to hop in I saw this I saw the break above moving averages I saw how this was the continuation of the uptrend since it was holding a higher low and I ended up taking a little position in UWT right UWT this one was doing good right around here as we started to break up And I started to trade it into this level here 995 I started to buy into the tens then ultimately guys. I sold at the peak here at about 10 0 8 This is one of those that I got in a bit late I'll be honest the perfect entry would have been down here at about 9 78 But we can't time the markets guys. We can't time the absolute bottom. That's just the truth, right? So I waited for it to bottom out I waited it for it to break those moving average resistances for it to pull down and hold those resistances as supports and I Again, I entered into the tens here, you know, 995 into the tens. That's where I started to build it That's where I felt comfortable and again I sold it very quickly because the trend it was just popping up at that point the R side was getting oversold I figured lock profits and that's what I did right. That's what I did pretty much from 999 up to where I sold it wasn't I think it was like under 1% profit. It was like a 0.8 0.7 0.8 something like that Nonetheless, it wasn't one of my biggest gains, but I'll take it guys I'm happy with that profit is profit in my eyes that is a green day in the books and Can't complain right the other trade that I'm currently involved in is Procter and gamble right Procter and gamble saw a bit of a pulldown today We can see that this could potentially be a head and shoulder, right? But I do feel confident here in holding it as a swing because if we go to the five day five minute Overall here the trend that I'm seeing is still pushing up, right? and I got in a little bit late in the day on Friday and I'm actually down a bit on my position right now, but again I'm being fully transparent with you guys I'm holding Procter and gamble and I am again seeing a bit of a head and shoulders here Which could be a bit worrisome right if the market's dumped tomorrow. Maybe we start to push down on PG You know if it does affect PG in terms of the market's drop, you know I might cut my losses if this ends up happening, right? But then again PG like I've been talking about on the channel It's one of these value stocks that a lot of people flock into as growth stocks are falling as markets You know the overall markets are seeing a lot of pressure, right? So this could end up being one of those that does well if the markets do take a hit But let's say the markets take a drastic hit. We've seen them take massive hits before It'll probably hit PG as well because massive massive hits and I'm talking Massive hits and we've seen massive hits this year of like three four percent in a day, right? If I'm remembering correctly, you know if we get one of those days sure PG might be affected But let's say we get an overall red day in the markets of point five percent or something like that like we got today Sometimes PG would be green in that particular circumstance today. It was red It was one of those days where it did go red as the markets go red But a lot of the times it's actually green believe it or not when the markets are in the slight red or whatever it may be Right, so PG I'm in this one. I plan on holding it till the next high or high, right? Whether that's 126 127 and I am a little bit down on the position, but that is okay We'll see how that ends up panning out here in the next couple of days So that event that is on Thursday guys that could affect the stock market is the US and China trade Negotiations, you know, they're pretty much meeting in Washington to discuss trade, right? And I have this picture on my phone that I want to read from you guys And it's pretty much a screenshot from this article that I saw I think it was on CNBC or something And let me just read this out this excerpt for you from this article So trade delegations from both the US and China are scheduled to meet in Washington on Thursday However, senior Chinese officials have recently signaled Reluctance to work toward President Donald Trump's broad trade deal according to Bloomberg News Chinese Vice Premier Liu He is expected to lead the Chinese trade delegation in Washington this week And he is reportedly planning to take one of Trump's key demands off the table, right? Whatever that may be, right? We don't have details on that from my research But he's planning on taking one of Trump's key demands off the table. That's pretty huge, right? We all know how Trump is into negotiating and deals So this could be pretty rocky, right? If the US doesn't like this This can end up being rocky causing more tension in the trade deals That is if this news is true, right? This could be 100% false for all we know But anyway, according to reports, Liu plans to bring a trade offer to the US that excludes commitments on reforming Chinese industrial policy or government subsidies so overall guys This is something that is My in my opinion the biggest strain on the stock market right now being that trade war Being the trade war between the United States and China, right? This has caused the most drops in the stock market for my, you know, you know for my Experience in the past year or two in the markets that I've seen from any other thing that we've been that we've been, you know Experiencing right it's caused a lot of massive sell-offs it's caused a lot of panic especially as the trade Frustrations have been put on Twitter on the media in the media in the news. It's in our faces It's giving us a lot of uncertainty. You know, this has been a big strain on the stock market So overall I'm watching this and I'm looking to see specifically how are the markets reacting? How is this negotiation going is our people getting ticked off? Is it being, you know, publicized on the media is Trump tweeting stuff like this and it can get bad in In a second guys, we've seen things tweet out new tariffs being slapped on You know tariffs rolling in that we're already slapped on and this causes a lot of strain and uncertainty on the stock market So these are just some things that I'm personally watching guys and the event on Thursday is the trade negotiations in Washington. So keep an eye on that So a couple of stocks very quickly before we do end off this video a couple of stocks and ETFs that I'm watching right now Include obviously Procter and Gamble. We don't have to break that one down Obviously UWT as we are seeing massive support on crude oil and again UWT goes up whenever crude oil is going up We're also I'm also watching You know Johnson and Johnson We're seeing some resistance under 133 as I did expect because we were getting oversold here on the RSI We may be pulling down here to 132 which could be an entry point on Johnson and Johnson on top of that old Resistance that is if it does end up holding it as a support level This could be a very nice dip by entry either to trade it up to 133, which if we look on a profit potential That's about 1.4 percent. Let's say we break out. We go to 135. That's around 3% That is interesting in my opinion What are some other ones guys off the top of my head here? We saw D gas today and I talked about this one in yesterday's video too I believe D gas up $7 up 5.4% and D gas goes up whenever Excuse me natural gas is going down in price and natural gas guys for those of you guys that don't know It's been getting killed recently from 270 this peak that we saw in the middle of September down to right now We're at $2 and 23 cents overall We're getting rejected by this 50 SMA which has been a resistance over the past couple of weeks now We're fiddling with the 230 level of support and right now. We're trending below it So this is not good for the bulls out there in my opinion, you know, this one's going to go down Strictly based off technicals here down to $2 and 20 cents right again, we're getting rejected here We're breaking below the main support This can be our start to the lower low which again if we get to 20 That would be the completion of the lower low than from there We may see another breather back up to that 50 SMA that could definitely happen there But overall here I'm seeing D gas as a good play Especially in the short term as natural gas has a lot more Downwards pressure another one that I'm watching is going to be gold guys gold right now Seems like it's it's forming a head and shoulder pattern of its own if we zoom in a bit here You can see left shoulder head right shoulder. It kind of already completed now We're fighting to pop up again, but ultimately we're still down trending lower high right here under the 180 SMA It's a clear rejection. We're on our way to that lower low now, especially if we break 1495 which is a level of support that we actually broke below a couple of days ago towards the end of September So JDST guys is one that I'm watching which goes up whenever gold is going down and whenever GDX is going down Right GDX is this gold ETF. You can see head and shoulder of its own as well We're seeing a rejection under that 50 SMA This could be pushing to a lower low any second now guys and again when that happens JDST is going up JDST goes up three times what GDX is going down meaning. Let's say GDX is down 2% Gold is getting crushed that day JDST is going to be up 6% because it goes up three times what gold is going down So those are some that I'm personally watching right now drop your watch list down below In the comment section, I'd love to know what you guys are personally watching and that's it for this video guys If you enjoyed it again, feel free to go down below hit that like button Consider subscribing if you do want to see further content for me and join our StriveSmart discord group chat and our StriveSmart Facebook group all of those are linked down below my personal Instagram as well join that I'm going to be doing a giveaway here in the next couple of weeks that you definitely Want to be a part of so I'll catch you all in the next video Thanks again for watching peace out